USD/JPY saw a high for the day exactly at strong resistance again at 109.90/110.00.
EUR/JPY topped exactly at 128.70/75. Our shorts worked perfectly hitting the target of 128.15/10 for an easy 60 pip profit. Now we are short again at first resistance at 128.55/65.
CAD/JPY we are short at strong resistance at 8610/20 with stops above 8640.
Today’s Analysis
USD/JPY shorts at strong resistance at 109.90/110.00 target 109.60/70, perhaps as far as 109.40. First support at 109.20/10 for profit taking on any remaining shorts. Longs need stops below 108.95. Further losses test the August low at 108.80/70. A break below here is a sell signal. Strong resistance at 109.90/110.00. Shorts need stops above 110.10. A break higher can target 110.30/40, perhaps as far as the August high at 110.70/80 for profit taking on any longs.
EUR/JPY first resistance at 128.55/65 (stop above 128.80) and again at 128.95/129.05. Stop above 129.15. Strongest resistance for this week at 129.35/45. Shorts need stops above 129.70. Any shorts at 128.55/65 target 128.35 before a retest of 128.15/10. Support at the August low at 127.95/90. A break below 127.80 is a sell signal.
CAD/JPY we are short at strong resistance at 8610/20. Shorts need stops above 8640. A break higher meets strong resistance at 8690/8700. Try shorts with stops above 8725. Shorts at 8610/20 target 8570/60, perhaps as far as 8535/30. Support at recent lows of 8485/65.
Disclaimer: No representation or warranty is made as to the accuracy or completeness of this information and opinions expressed may be subject to change without notice. Estimates and projections set forth herein are based on assumptions that may not be correct or otherwise realized. All reports and information are designed for information purposes only and neither the information contained herein nor any opinion expressed is deemed to constitute an offer or invitation to make an offer, to buy or sell any security or any option, futures or other related derivatives.